Germany's import prices down 13% in October

By Gokhan Ergocun

ISTANBUL (AA) - Germany's import prices fell 13% year-on-year in October, the country's statistical office Destatis said on Wednesday.

Import prices also dropped 14.3% in September and 16.4% in August, on a yearly basis, said Destatis.

Export prices, meanwhile, were down 2.4% in October versus the same month last year.

The large drops are mainly due to the base effect stemming from last year's high price rises as a result of the Russia-Ukraine war, which began in February 2022.